Independent re/insurance legacy specialist Compre has completed the acquisition of Hamburger Internationale Rückversicherung (HIR) from Tawa after obtaining regulatory approval from German regulator BaFin.
Australian insurer QBE Insurance posted an 18 percent fall in its net profits in the first half of 2014 as it announced plans to partially float its mortgage insurance business and raised some $600 million of new capital.
Xchanging, the business process, procurement and technology services provider, has appointed Raymond Victor as vice president Asia Pacific sales, Xchanging Technology.
Arch Underwriting at Lloyd’s (Australia) has appointed Clive Davidson as regional manager, executive risks.
Specialist insurer Beazley has expanded its US underwriting capabilities with the recruitment of Benjamin Welch. He will be based in Beazley's Atlanta office.
Moody's Investors Service has downgraded the rating outlook of QBE Lenders’ Mortgage Insurance following the announcement of a partial initial public offering (IPO) of the company.
AM Best is the final agency to revise its outlook on the global reinsurance sector to negative, citing ongoing market challenges which will hinder the potential for positive rating outlooks or upgrades.
Private equity firm Aquiline is reportedly in advanced talks with Beach & Associates, a Canada-based re/insurance intermediary, to acquire a majority stake in the firm.
The management team of Open International, the parent company of the online commercial insurance markets PowerPlace and Open GI, has completed a management buyout of the business from its private shareholders with the backing of Montagu Private Equity.
The executive committee of the National Association of Insurance Commissioners (NAIC) has adopted a newly drafted reinsurance framework which changes the types of assets or securities insurer/captive regulations can invest in to back their reserve liabilities.